Cooperation Agreement with Fund for Mono-Cities Development is signed on Kumertau

UFA, 19 October 2015. /Bashinform News Agency, Alexander Smirnov/. On October 19, at the House of the Republic the Head of Bashkortostan Rustem Khamitov met with the Deputy Chairman of Vnesheconombank, the head of the Working Group on Modernizing Mono-Cities under the Governmental Commission for Economic Development and Integration Irina Makieva and CEO of the Fund for Mono-Cities Development Ilya Krivogov.

During the meeting, Rustem Khamitov and Ilya Krivogov signed a General Cooperation Agreement on the development of the city of Kumertau. It provides necessary conditions for creation of new jobs and investment in one-industry town.

“The document stipulates what indicators to be achieved by 2020. For example, 520 new jobs should be created up to 2020 and about 4.3 billion rubles of investments should be made. This is the first agreement on the single-industry town. We believe that after Kumertau the same agreement will be reached on the city of Belebey, but there is still a lot of work there,” Irina Makieva told reporters. “The agreement includes three positions. The first one is a possibility of co-financing the construction of engineering infrastructure for new projects. The second — is realization of the investment projects themselves. The Fund has the right to have interest in the capital and to grant loans. The third position is a joint training of management teams.”

According to her, until the end of the year the city can receive an advance of up to 400 million rubles.

The non-profit organization "Fund for Mono-Cities Development " is established by Vnesheconombank in October 2014. Its goal is to create jobs not related to the main enterprise of single-industry towns and to attract investment in such towns by implementing infrastructure and investment projects.